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Consumer debt continues to grow

by | Feb 29, 2024 | Bankruptcy, Chapter 13, Chapter 7

A recent Star Tribune article indicates that Minnesotans have an average of $63,000 of debt per capita (which includes mortgages). As a bankruptcy attorney, we definitely saw a lull with all of the moratoriums on student loans, garnishment, foreclosures and evictions, etc., not to mention all of the free government money. Despite the bright points of our economy, including the ease of finding jobs, people are struggling again.

If you believe your debt load is approaching the tipping point, we do offer a free consultation. Bankruptcy is often the most surefire and least expensive option, but if it’s not the best option for you, I’d be the first to tell you that.